Crown Castle (CCI) Financials

$100.15 -0.20 (-0.20%)

Closing price 03:59 PM Eastern

Extended Trading

$99.92 -0.23 (-0.22%)

As of 06:30 PM Eastern

Annual Income Statements for Crown Castle

This table shows Crown Castle's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	7,877	3,202	3,073	1,096	999	789	547	308	424	1,477
Consolidated Net Income / (Loss)	7,877	3,202	3,073	1,096	1,056	902	660	366	357	1,524
Net Income / (Loss) Continuing Operations	0.00	0.00	0.00	1,158	1,056	902	660	366	391	525
Total Pre-Tax Income	7,901	3,228	3,089	1,179	1,076	881	641	392	374	474
Total Operating Income	-2,938	2,369	2,425	2,001	1,863	1,559	1,383	967	949	946
Total Gross Profit	4,721	5,001	4,918	4,347	3,871	3,777	3,526	2,712	2,480	2,342
Total Revenue	6,568	6,981	6,986	6,340	5,840	5,763	5,370	4,255	3,921	3,664
Operating Revenue	6,568	6,981	6,986	6,340	5,840	5,763	5,370	4,255	3,921	3,664
Total Cost of Revenue	1,847	1,980	2,068	1,993	1,969	1,986	1,844	1,543	1,441	1,321
Operating Cost of Revenue	1,847	1,980	2,068	1,993	1,969	1,986	1,844	1,543	1,441	1,321
Total Operating Expenses	-2,257	2,632	2,493	2,346	2,008	2,218	2,143	1,745	1,531	1,396
Selling, General & Admin Expense	706	759	750	680	678	614	563	426	371	311
Depreciation Expense	1,738	1,754	1,707	1,644	1,608	1,572	1,527	1,241	1,109	1,036
Impairment Charge	-4,810	33	34	21	74	19	26	17	34	33
Restructuring Charge	109	86	2.00	1.00	10	13	27	61	17	16
Total Other Income / (Expense), net	923	859	664	-822	-787	-678	-742	-575	-575	-472
Interest Expense	-932	-850	-671	802	784	685	748	595	567	531
Interest & Investment Income	19	15	3.00	1.00	2.00	6.00	5.00	19	1.00	1.91
Other Income / (Expense), net	-28	-6.00	-10	-21	-5.00	1.00	1.00	1.00	-9.00	57
Income Tax Expense	24	26	16	21	20	-21	-19	26	-17	-51
Basic Earnings per Share	($8.98)	$3.46	$3.87	$2.54	$2.36	$3.60	$1.23	$0.80	$0.95	$4.44
Weighted Average Basic Shares Outstanding	434M	434M	433M	432M	423M	416M	413M	382M	340M	333.00M
Diluted Earnings per Share	($8.98)	$3.46	$3.86	$2.53	$2.35	$3.58	$1.23	$0.80	$0.95	$4.42
Weighted Average Diluted Shares Outstanding	434M	434M	434M	434M	425M	418M	415M	383M	341M	334.06M
Weighted Average Basic & Diluted Shares Outstanding	435.43M	434.22M	433.44M	864.43M	862.62M	416.75M	413.30M	383.20M	360.54M	494M
Cash Dividends to Common per Share	$6.26	$6.26	$5.98	$5.46	$4.93	$4.58	$4.28	$3.90	$3.61	$3.35

This table shows Crown Castle's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	7,013	303	251	310	2,064	265	456	417	1,814	419
Consolidated Net Income / (Loss)	7,012	303	251	311	2,064	265	455	418	1,812	419
Net Income / (Loss) Continuing Operations	-865	303	251	311	-1,138	265	455	418	-840	419
Total Pre-Tax Income	7,017	308	258	318	2,069	272	462	425	1,814	422
Total Operating Income	-4,505	544	485	538	588	486	667	628	612	602
Total Gross Profit	1,185	1,192	1,167	1,177	1,221	1,181	1,345	1,254	1,243	1,222
Total Revenue	1,649	1,652	1,626	1,641	1,674	1,667	1,867	1,773	1,764	1,746
Operating Revenue	1,649	1,652	1,626	1,641	1,674	1,667	1,867	1,773	1,764	1,746
Total Cost of Revenue	464	460	459	464	453	486	522	519	521	524
Operating Cost of Revenue	464	460	459	464	453	486	522	519	521	524
Total Operating Expenses	-4,226	648	682	639	633	695	678	626	631	620
Selling, General & Admin Expense	166	153	204	183	178	176	210	195	192	187
Depreciation Expense	437	432	430	439	439	439	445	431	430	430
Impairment Charge	-4,834	15	3.00	6.00	3.00	8.00	22	0.00	8.00	3.00
Restructuring Charge	5.00	48	45	11	13	72	1.00	0.00	1.00	0.00
Total Other Income / (Expense), net	1,606	-236	-227	-220	1,481	-214	-205	-203	1,202	-180
Interest Expense	-1,624	236	230	226	-1,477	217	208	202	-1,205	179
Interest & Investment Income	5.00	6.00	4.00	4.00	5.00	3.00	5.00	2.00	2.00	1.00
Other Income / (Expense), net	-23	-6.00	-1.00	2.00	-1.00	0.00	-2.00	-3.00	-5.00	-2.00
Income Tax Expense	5.00	5.00	7.00	7.00	5.00	7.00	7.00	7.00	2.00	3.00
Basic Earnings per Share	($10.98)	$0.70	$0.58	$0.72	$0.83	$0.61	$1.05	$0.97	$0.96	$0.97
Weighted Average Basic Shares Outstanding	434M	435M	435M	434M	434M	434M	434M	433M	433M	433M
Diluted Earnings per Share	($10.97)	$0.70	$0.58	$0.71	$0.83	$0.61	$1.05	$0.97	$0.95	$0.97
Weighted Average Diluted Shares Outstanding	434M	436M	435M	435M	434M	434M	434M	434M	434M	434M
Weighted Average Basic & Diluted Shares Outstanding	435.43M	434.60M	434.57M	434.52M	434.22M	433.69M	433.68M	433.67M	433.44M	433.05M

This table details how cash moves in and out of Crown Castle's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	15	-47	-139	147	43	-75	432	27,700	269	-1,101
Net Cash From Operating Activities	2,943	3,126	2,878	2,789	3,055	2,698	2,500	2,032	1,787	1,794
Net Cash From Continuing Operating Activities	-6,973	3,119	2,878	2,789	3,055	3,032	2,934	1,926	1,787	1,794
Net Income / (Loss) Continuing Operations	-3,903	1,502	1,675	1,158	1,056	860	622	366	357	525
Consolidated Net Income / (Loss)	-3,903	1,502	1,675	1,158	1,056	860	622	366	357	525
Depreciation Expense	1,738	1,754	1,707	1,644	1,608	1,572	1,527	1,241	1,109	1,036
Amortization Expense	32	29	17	13	6.00	1.00	7.00	9.00	14	37
Non-Cash Adjustments To Reconcile Net Income	-4,644	197	223	316	312	138	27	103	178	-26
Changes in Operating Assets and Liabilities, net	-196	-363	-744	-342	73	127	317	305	129	221
Net Cash From Investing Activities	-1,220	-1,519	-1,352	-1,332	-1,741	-2,081	-1,793	-10,482	-1,429	-1,960
Net Cash From Continuing Investing Activities	-1,220	-1,519	-1,352	-1,332	-1,741	-2,067	-1,769	10,482	-1,429	-1,960
Purchase of Property, Plant & Equipment	-1,222	-1,424	-1,310	-1,229	-1,624	-2,057	-1,739	-1,217	-874	-909
Acquisitions	-8.00	-96	-35	-111	-107	-17	-42	-9,260	-557	-1,102
Other Investing Activities, net	10	1.00	-7.00	8.00	-10	-7.00	-12	-5.00	2.00	51
Net Cash From Financing Activities	-1,708	-1,654	-1,665	-1,310	-1,271	-692	-733	8,192	-89	-935
Net Cash From Continuing Financing Activities	6,878	14,084	12,103	-1,310	-1,271	-692	-733	15,292	-89	-935
Repayment of Debt	2,872	3,875	5,193	-4,097	-5,168	-2,627	-4,207	-1,988	-8,748	-2,535
Repurchase of Common Equity	33	30	65	-70	-76	-44	-34	-23	-25	-30
Payment of Dividends	2,729	2,723	2,602	-2,373	-2,190	-2,025	-1,895	-1,539	-1,283	-1,160
Issuance of Debt	1,244	7,456	4,243	5,230	6,163	4,004	4,562	5,913	8,641	2,790

This table details how cash moves in and out of Crown Castle's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	102	2.00	103	-192	185	-183	-49	0.00	6.00	-125
Net Cash From Operating Activities	877	699	768	599	868	533	1,119	606	840	701
Net Cash From Continuing Operating Activities	-8,861	661	838	389	1,055	549	969	546	868	679
Net Income / (Loss) Continuing Operations	-4,768	303	251	311	363	265	456	418	414	1,261
Consolidated Net Income / (Loss)	-4,768	303	251	311	363	265	456	418	414	419
Depreciation Expense	437	432	430	439	439	439	445	431	431	429
Amortization Expense	8.00	6.00	10	8.00	7.00	8.00	7.00	7.00	7.00	3.00
Non-Cash Adjustments To Reconcile Net Income	-4,756	33	39	40	51	35	72	39	55	39
Changes in Operating Assets and Liabilities, net	218	-113	108	-409	195	-198	-11	-349	-39	-211
Net Cash From Investing Activities	-273	-297	-330	-320	-364	-349	-399	-407	-406	-337
Net Cash From Continuing Investing Activities	-273	-297	-330	-320	-364	-349	-399	-407	-406	-337
Purchase of Property, Plant & Equipment	-276	-297	-329	-320	-357	-347	-379	-341	-389	-337
Other Investing Activities, net	3.00	7.00	-1.00	1.00	-4.00	2.00	2.00	1.00	3.00	-
Net Cash From Financing Activities	-680	-362	-405	-261	-513	-383	-619	-139	-456	-461
Net Cash From Continuing Financing Activities	7,906	-362	-405	-261	15,225	-383	-619	-139	13,312	-461
Repayment of Debt	3,063	-923	278	454	8,233	-533	-1,967	-1,858	7,787	289
Repurchase of Common Equity	65	-2.00	-3.00	-27	59	-	-1.00	-28	129	-1.00
Payment of Dividends	4,778	-681	-680	-688	4,767	-680	-678	-686	4,526	-637

This table presents Crown Castle's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	32,736	38,527	38,921	39,040	38,768	38,457	32,762	32,229	22,675	21,937
Total Current Assets	1,090	1,032	1,217	1,254	1,104	1,204	1,229	1,134	1,325	981
Cash & Equivalents	119	105	156	292	232	196	277	314	568	179
Restricted Cash	171	171	166	169	144	137	131	121	125	131
Accounts Receivable	478	481	593	543	431	596	501	398	374	313
Prepaid Expenses	106	103	102	105	95	107	172	162	129	133
Other Current Assets	216	172	200	145	202	168	148	139	130	225
Plant, Property, & Equipment, net	15,495	15,666	15,407	15,269	15,162	14,666	13,653	12,933	9,805	9,580
Total Noncurrent Assets	16,151	21,829	22,297	22,517	22,502	22,587	17,880	18,162	11,545	11,376
Noncurrent Note & Lease Receivables	2,343	2,239	1,954	1,588	1,408	1,424	1,366	1,300	1,318	1,306
Goodwill	5,127	10,085	10,085	10,078	10,078	10,078	10,078	10,021	5,758	5,514
Intangible Assets	54	57	61	64	68	72	307	336	351	359
Other Noncurrent Operating Assets	8,627	9,448	10,197	10,787	10,948	11,013	6,129	6,505	4,118	4,197
Total Liabilities & Shareholders' Equity	32,736	38,527	38,921	39,040	38,768	38,457	32,762	32,229	22,675	21,937
Total Liabilities	32,869	32,146	31,472	30,782	29,307	27,968	21,191	19,890	15,118	14,848
Total Current Liabilities	2,177	2,585	2,731	2,026	1,969	1,920	1,506	1,292	961	855
Short-Term Debt	610	835	819	72	129	100	107	115	102	106
Accounts Payable	192	252	236	246	230	334	313	249	189	160
Current Deferred Revenue	476	605	736	776	704	657	587	457	353	323
Other Current Liabilities	655	674	757	750	707	660	351	339	221	200
Other Current Nonoperating Liabilities	244	219	183	182	199	169	148	132	97	67
Total Noncurrent Liabilities	30,692	29,561	28,741	28,756	27,338	26,048	19,685	18,598	14,157	13,992
Long-Term Debt	23,471	22,086	20,910	20,557	19,151	18,021	16,575	16,044	12,069	12,044
Capital Lease Obligations	5,236	5,561	5,881	6,031	5,808	5,511	0.00	-	-	-
Other Noncurrent Operating Liabilities	1,985	1,914	1,950	2,168	2,379	2,516	3,110	2,554	2,087	1,949
Total Equity & Noncontrolling Interests	-133	6,381	7,449	8,258	9,461	10,489	11,571	12,339	7,557	7,089
Total Preferred & Common Equity	-133	6,381	7,449	8,258	9,461	10,489	11,571	12,339	7,557	7,089
Total Common Equity	-133	6,381	7,449	8,258	9,461	10,489	11,571	12,339	7,557	7,089
Common Stock	18,397	18,274	18,120	18,015	17,937	17,859	17,771	16,848	10,942	9,552
Retained Earnings	-18,525	-11,889	-10,666	-9,753	-8,472	-7,365	-6,195	-4,505	-3,379	-2,458
Accumulated Other Comprehensive Income / (Loss)	-5.00	-4.00	-5.00	-4.00	-4.00	-5.00	-5.00	-4.00	-5.89	-4.40

This table presents Crown Castle's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	32,736	38,043	38,246	38,231	38,527	38,699	39,042	39,054	38,921	38,861
Total Current Assets	1,090	1,124	1,081	977	1,032	1,126	1,349	1,325	1,217	1,182
Cash & Equivalents	119	194	155	125	105	117	276	187	156	174
Restricted Cash	171	172	171	168	171	167	207	196	166	168
Accounts Receivable	478	413	420	380	481	512	496	565	593	535
Prepaid Expenses	106	144	155	130	103	143	182	159	102	111
Other Current Assets	216	201	180	174	172	187	188	218	200	194
Plant, Property, & Equipment, net	15,495	15,643	15,698	15,677	15,666	15,573	15,571	15,492	15,407	15,265
Total Noncurrent Assets	16,151	21,276	21,467	21,577	21,829	22,000	22,122	22,237	22,297	22,414
Noncurrent Note & Lease Receivables	2,343	2,340	2,341	2,292	2,239	8,498	2,128	2,040	1,954	8,493
Goodwill	5,127	10,085	10,085	10,085	10,085	10,085	10,085	10,085	10,085	10,087
Intangible Assets	54	2,878	2,974	3,073	57	3,276	3,388	3,496	61	3,699
Other Noncurrent Operating Assets	8,627	5,973	6,067	6,127	9,448	141	6,521	6,616	10,197	135
Total Liabilities & Shareholders' Equity	32,736	38,043	38,246	38,231	38,527	38,699	39,042	39,054	38,921	38,861
Total Liabilities	32,869	32,747	32,594	32,183	32,146	32,030	31,996	31,831	31,472	31,182
Total Current Liabilities	2,177	2,097	2,494	2,336	2,585	2,549	2,725	2,535	2,731	2,584
Short-Term Debt	610	611	865	854	835	827	819	819	819	819
Accounts Payable	192	200	225	216	252	215	240	233	236	229
Current Deferred Revenue	476	483	509	514	605	650	793	721	736	686
Other Current Liabilities	655	639	667	592	674	712	654	630	757	731
Other Current Nonoperating Liabilities	244	164	228	160	219	145	219	132	183	119
Total Noncurrent Liabilities	30,692	30,650	30,100	29,847	29,561	29,481	29,271	29,296	28,741	28,598
Long-Term Debt	23,471	23,452	22,854	22,560	22,086	21,903	21,599	21,513	20,910	20,664
Capital Lease Obligations	5,236	5,272	5,354	5,397	5,561	5,660	5,750	5,856	5,881	5,941
Other Noncurrent Operating Liabilities	1,985	1,926	1,892	1,890	1,914	1,918	1,922	1,927	1,950	1,993
Total Equity & Noncontrolling Interests	-133	5,296	5,652	6,048	6,381	6,669	7,046	7,223	7,449	7,679
Total Preferred & Common Equity	-133	5,296	5,652	6,048	6,381	6,669	7,046	7,223	7,449	7,675
Total Common Equity	-133	5,296	5,652	6,048	6,381	6,669	7,046	7,223	7,449	7,675
Common Stock	18,397	18,375	18,351	18,314	18,274	18,245	18,206	18,158	18,120	18,087
Retained Earnings	-18,525	-13,074	-12,694	-12,261	-11,889	-11,571	-11,155	-10,929	-10,666	-10,405
Accumulated Other Comprehensive Income / (Loss)	-5.00	-5.00	-5.00	-5.00	-4.00	-5.00	-5.00	-6.00	-5.00	-7.00

This table displays calculated financial ratios and metrics derived from Crown Castle's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.92%	-0.07%	10.19%	8.56%	1.34%	7.32%	26.20%	8.52%	7.02%	3.54%
EBITDA Growth	-128.85%	0.17%	13.80%	4.75%	10.82%	7.37%	31.56%	7.51%	-0.65%	2.83%
EBIT Growth	-225.52%	-2.15%	21.97%	6.57%	19.10%	12.72%	42.98%	2.98%	-6.30%	5.30%
NOPAT Growth	-224.65%	-2.59%	22.75%	7.49%	14.55%	12.09%	57.72%	-9.00%	-5.41%	7.89%
Net Income Growth	146.00%	4.20%	180.38%	3.79%	17.07%	36.67%	80.33%	2.52%	-76.58%	282.26%
EPS Growth	-359.54%	-10.36%	52.57%	7.66%	-34.36%	191.06%	53.75%	-15.79%	-78.51%	325.00%
Operating Cash Flow Growth	-5.85%	8.62%	3.19%	-8.71%	13.23%	7.92%	23.03%	13.71%	-0.39%	12.11%
Free Cash Flow Firm Growth	11.16%	15.60%	25.50%	20.16%	132.36%	-368.63%	119.93%	-1,053.58%	342.55%	-81.15%
Invested Capital Growth	-16.28%	-0.33%	0.81%	0.78%	1.22%	21.31%	-0.72%	47.36%	0.72%	4.72%
Revenue Q/Q Growth	-0.38%	-1.27%	1.60%	-15.34%	30.85%	1.05%	-1.83%	6.34%	7.29%	-3.00%
EBITDA Q/Q Growth	-130.51%	-0.29%	2.68%	-3.86%	9.42%	2.02%	6.26%	0.71%	1.57%	-0.86%
EBIT Q/Q Growth	-238.02%	-0.84%	3.83%	-7.56%	18.72%	3.72%	11.52%	-6.69%	3.21%	-2.53%
NOPAT Q/Q Growth	-238.57%	-0.35%	4.28%	-5.81%	15.35%	1.17%	18.60%	-15.99%	-0.25%	7.11%
Net Income Q/Q Growth	540.93%	106.31%	90.40%	-10.82%	33.50%	3.32%	35.25%	-32.41%	17.99%	-5.41%
EPS Q/Q Growth	-242.99%	-53.49%	7.82%	-4.89%	-37.67%	111.83%	44.71%	-33.88%	-2.06%	-0.67%
Operating Cash Flow Q/Q Growth	0.31%	0.90%	3.82%	-8.26%	6.15%	3.17%	4.43%	7.21%	-1.15%	3.10%
Free Cash Flow Firm Q/Q Growth	5.15%	6.29%	152.22%	-19.65%	-81.91%	8.84%	126.97%	-797.71%	-13.30%	552.95%
Invested Capital Q/Q Growth	-15.37%	-0.33%	0.11%	21.60%	20.55%	-2.26%	-1.34%	33.36%	-0.13%	-0.80%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	71.88%	71.64%	70.40%	68.56%	66.28%	65.54%	65.66%	63.74%	63.25%	63.93%
EBITDA Margin	-18.21%	59.39%	59.25%	57.37%	59.45%	54.36%	54.34%	52.13%	52.61%	56.68%
Operating Margin	-44.73%	33.94%	34.71%	31.56%	31.90%	27.05%	25.75%	22.73%	24.20%	25.82%
EBIT Margin	-45.16%	33.85%	34.57%	31.23%	31.82%	27.07%	25.77%	22.75%	23.97%	27.38%
Profit (Net Income) Margin	119.93%	45.87%	43.99%	17.29%	18.08%	15.65%	12.29%	8.60%	9.10%	41.60%
Tax Burden Percent	99.70%	99.19%	99.48%	92.96%	98.14%	102.38%	102.96%	93.37%	95.45%	321.71%
Interest Burden Percent	-266.39%	136.61%	127.91%	59.55%	57.91%	56.47%	46.32%	40.50%	39.79%	47.23%
Effective Tax Rate	0.30%	0.81%	0.52%	1.78%	1.86%	-2.38%	-2.96%	6.63%	-4.55%	-10.86%
Return on Invested Capital (ROIC)	-9.16%	6.74%	6.94%	5.70%	5.35%	5.15%	5.07%	3.82%	5.20%	5.65%
ROIC Less NNEP Spread (ROIC-NNEP)	28.30%	9.79%	9.39%	2.31%	2.16%	1.67%	0.33%	-0.10%	-0.21%	9.73%
Return on Net Nonoperating Assets (RNNOA)	261.31%	39.56%	32.19%	6.68%	5.23%	3.02%	0.45%	-0.14%	-0.33%	16.40%
Return on Equity (ROE)	252.14%	46.31%	39.13%	12.37%	10.59%	8.18%	5.52%	3.68%	4.87%	22.05%
Cash Return on Invested Capital (CROIC)	8.57%	7.07%	6.13%	4.92%	4.14%	-14.10%	5.79%	-34.48%	4.49%	1.04%
Operating Return on Assets (OROA)	-8.32%	6.10%	6.20%	5.09%	4.81%	4.38%	4.26%	3.53%	4.21%	4.66%
Return on Assets (ROA)	22.11%	8.27%	7.88%	2.82%	2.73%	2.53%	2.03%	1.33%	1.60%	7.08%
Return on Common Equity (ROCE)	252.14%	46.31%	39.13%	12.37%	10.59%	8.18%	5.52%	3.68%	4.87%	22.02%
Return on Equity Simple (ROE_SIMPLE)	0.00%	50.18%	41.25%	13.27%	11.16%	8.60%	5.70%	2.97%	4.72%	21.50%
Net Operating Profit after Tax (NOPAT)	-2,929	2,350	2,412	1,965	1,828	1,596	1,424	903	992	1,049
NOPAT Margin	-44.60%	33.66%	34.53%	31.00%	31.31%	27.70%	26.52%	21.22%	25.30%	28.63%
Net Nonoperating Expense Percent (NNEP)	-37.46%	-3.05%	-2.45%	3.39%	3.19%	3.48%	4.73%	3.91%	5.41%	-4.08%
Return On Investment Capital (ROIC_SIMPLE)	-10.04%	6.74%	6.88%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	28.12%	28.36%	29.60%	31.44%	33.72%	34.46%	34.34%	36.26%	36.75%	36.07%
SG&A Expenses to Revenue	10.75%	10.87%	10.74%	10.73%	11.61%	10.65%	10.48%	10.01%	9.46%	8.49%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	-34.36%	37.70%	35.69%	37.00%	34.38%	38.49%	39.91%	41.01%	39.05%	38.11%
Earnings before Interest and Taxes (EBIT)	-2,966	2,363	2,415	1,980	1,858	1,560	1,384	968	940	1,003
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1,196	4,146	4,139	3,637	3,472	3,133	2,918	2,218	2,063	2,077
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	7.26	6.92	9.67	6.23	4.69	6.27	5.66	2.90	2.91
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	145.19	61.16	35.21	15.12	16.95
Price to Revenue (P/Rev)	5.91	6.63	7.37	12.59	10.10	8.54	13.51	16.40	5.58	5.63
Price to Earnings (P/E)	4.93	14.46	16.76	72.83	59.03	62.38	132.61	226.59	51.63	13.97
Dividend Yield	7.01%	5.86%	5.02%	2.96%	3.61%	3.86%	4.89%	4.54%	5.58%	5.41%
Earnings Yield	20.30%	6.92%	5.97%	1.37%	1.69%	1.60%	0.75%	0.44%	1.94%	7.16%
Enterprise Value to Invested Capital (EV/IC)	2.33	2.14	2.26	3.06	2.43	2.14	3.17	3.03	1.74	1.71
Enterprise Value to Revenue (EV/Rev)	10.33	10.67	11.28	16.72	14.33	12.58	16.54	20.10	8.51	8.86
Enterprise Value to EBITDA (EV/EBITDA)	0.00	17.97	19.04	29.15	24.10	23.15	30.44	38.56	16.18	15.64
Enterprise Value to EBIT (EV/EBIT)	0.00	31.53	32.63	53.54	45.04	46.49	64.17	88.34	35.50	32.37
Enterprise Value to NOPAT (EV/NOPAT)	0.00	31.71	32.66	53.94	45.77	45.43	62.37	94.72	33.64	30.96
Enterprise Value to Operating Cash Flow (EV/OCF)	23.05	23.84	27.38	38.01	27.39	26.88	35.53	42.08	18.67	18.10
Enterprise Value to Free Cash Flow (EV/FCFF)	24.76	30.24	36.97	62.42	59.21	0.00	54.62	0.00	39.00	167.94
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-220.43	4.46	3.71	3.23	2.65	2.25	1.44	1.31	1.61	1.71
Long-Term Debt to Equity	-215.84	4.33	3.60	3.22	2.64	2.24	1.43	1.30	1.60	1.70
Financial Leverage	9.23	4.04	3.43	2.89	2.43	1.81	1.35	1.38	1.60	1.69
Leverage Ratio	11.41	5.60	4.96	4.39	3.87	3.23	2.72	2.76	3.05	3.12
Compound Leverage Factor	-30.38	7.65	6.35	2.61	2.24	1.82	1.26	1.12	1.21	1.47
Debt to Total Capital	100.46%	81.70%	78.75%	76.35%	72.62%	69.26%	59.05%	56.70%	61.69%	63.15%
Short-Term Debt to Total Capital	2.09%	2.40%	2.34%	0.21%	0.37%	0.29%	0.38%	0.40%	0.52%	0.55%
Long-Term Debt to Total Capital	98.37%	79.30%	76.42%	76.14%	72.24%	68.97%	58.67%	56.30%	61.18%	62.60%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-0.46%	18.30%	21.25%	23.65%	27.38%	30.74%	40.95%	43.30%	38.31%	36.85%
Debt to EBITDA	-24.51	6.87	6.67	7.33	7.23	7.54	5.72	7.29	5.90	5.85
Net Debt to EBITDA	-24.27	6.80	6.59	7.20	7.12	7.44	5.58	7.09	5.56	5.70
Long-Term Debt to EBITDA	-24.00	6.67	6.47	7.31	7.19	7.51	5.68	7.23	5.85	5.80
Debt to NOPAT	-10.01	12.12	11.44	13.57	13.72	14.81	11.71	17.90	12.27	11.58
Net Debt to NOPAT	-9.91	12.00	11.31	13.33	13.52	14.60	11.43	17.42	11.57	11.29
Long-Term Debt to NOPAT	-9.80	11.77	11.11	13.53	13.65	14.74	11.64	17.77	12.17	11.48
Altman Z-Score	-0.22	0.77	0.94	1.51	1.18	1.05	2.08	2.13	0.99	1.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.15%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.50	0.40	0.45	0.62	0.56	0.63	0.82	0.88	1.38	1.15
Quick Ratio	0.27	0.23	0.27	0.41	0.34	0.41	0.52	0.55	0.98	0.58
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,739	2,464	2,131	1,698	1,413	-4,368	1,626	-8,159	856	193
Operating Cash Flow to CapEx	240.83%	219.52%	219.69%	226.93%	188.12%	131.16%	143.76%	166.97%	204.46%	197.39%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	2.12	1.80	-6.38	2.17	-13.71	1.51	0.36
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	3.48	3.90	3.94	3.34	3.42	3.15	3.38
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	1.95	1.83	0.94	1.02	1.37	1.61	1.67
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.18	0.18	0.18	0.16	0.15	0.16	0.17	0.16	0.18	0.17
Accounts Receivable Turnover	13.70	13.00	12.30	13.02	11.37	10.51	11.95	11.03	11.42	11.69
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.42	0.45	0.46	0.42	0.39	0.41	0.40	0.37	0.40	0.39
Accounts Payable Turnover	8.32	8.11	8.58	8.37	6.98	6.14	6.56	7.05	8.28	8.21
Days Sales Outstanding (DSO)	26.65	28.08	29.68	28.04	32.09	34.74	30.55	33.09	31.97	31.21
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	43.87	44.98	42.54	43.59	52.28	59.45	55.62	51.75	44.09	44.47
Cash Conversion Cycle (CCC)	-17.22	-16.90	-12.86	-15.55	-20.18	-24.72	-25.07	-18.66	-12.12	-13.26
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	29,138	34,806	34,920	34,639	34,372	33,957	27,993	28,195	19,133	18,997
Invested Capital Turnover	0.21	0.20	0.20	0.18	0.17	0.19	0.19	0.18	0.21	0.20
Increase / (Decrease) in Invested Capital	-5,668	-114	281	267	415	5,964	-202	9,062	137	856
Enterprise Value (EV)	67,822	74,510	78,800	106,018	83,679	72,518	88,813	85,515	33,372	32,470
Market Capitalization	38,795	46,304	51,512	79,819	58,967	49,219	72,539	69,791	21,893	20,629
Book Value per Share	($0.31)	$14.71	$17.20	$19.11	$21.94	$25.23	$13.94	$15.19	$22.30	$21.24
Tangible Book Value per Share	($12.23)	($8.67)	($6.23)	($4.36)	($1.59)	$0.82	$1.43	$2.44	$4.27	$3.65
Total Capital	29,184	34,863	35,059	34,918	34,549	34,121	28,253	28,498	19,728	19,239
Total Debt	29,317	28,482	27,610	26,660	25,088	23,632	16,682	16,159	12,171	12,150
Total Long-Term Debt	28,707	27,647	26,791	26,588	24,959	23,532	16,575	16,044	12,069	12,044
Net Debt	29,027	28,206	27,288	26,199	24,712	23,299	16,274	15,724	11,479	11,840
Capital Expenditures (CapEx)	1,222	1,424	1,310	1,229	1,624	2,057	1,739	1,217	874	909
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-767	-994	-1,017	-1,161	-1,112	-949	-578	-478	-227	-77
Debt-free Net Working Capital (DFNWC)	-477	-718	-695	-700	-736	-616	-170	-43	465	232
Net Working Capital (NWC)	-1,087	-1,553	-1,514	-772	-865	-716	-277	-158	363	126
Net Nonoperating Expense (NNE)	-10,806	-852	-661	869	772	694	764	537	635	-475
Net Nonoperating Obligations (NNO)	29,271	28,425	27,471	26,381	24,911	23,468	16,422	15,856	11,576	11,907
Total Depreciation and Amortization (D&A)	1,770	1,783	1,724	1,657	1,614	1,573	1,534	1,250	1,123	1,073
Debt-free, Cash-free Net Working Capital to Revenue	-11.68%	-14.24%	-14.56%	-18.31%	-19.04%	-16.47%	-10.76%	-11.23%	-5.79%	-2.11%
Debt-free Net Working Capital to Revenue	-7.26%	-10.29%	-9.95%	-11.04%	-12.60%	-10.69%	-3.17%	-1.01%	11.86%	6.33%
Net Working Capital to Revenue	-16.55%	-22.25%	-21.67%	-12.18%	-14.81%	-12.42%	-5.16%	-3.71%	9.27%	3.44%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($8.98)	$6.92	$3.87	$5.22	$2.36	$1.80	$1.35	$1.01	$0.95	$4.44
Adjusted Weighted Average Basic Shares Outstanding	434M	434M	433M	432M	423M	416M	413M	381.74M	340.35M	333.00M
Adjusted Diluted Earnings per Share	($8.98)	$6.92	$3.86	$5.20	$2.35	$1.79	$1.34	$1.01	$0.95	$4.42
Adjusted Weighted Average Diluted Shares Outstanding	434M	434M	434M	434M	425M	418M	415M	383.22M	340.88M	334.06M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$1.80	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	435.43M	434.22M	433.44M	864.43M	862.62M	416.75M	415.57M	406.91M	360.54M	333.77M
Normalized Net Operating Profit after Tax (NOPAT)	-7,616	2,468	2,448	1,987	1,911	1,114	1,005	976	700	697
Normalized NOPAT Margin	-115.95%	35.35%	35.05%	31.34%	32.72%	19.33%	18.72%	22.93%	17.85%	19.02%
Pre Tax Income Margin	120.30%	46.24%	44.22%	18.60%	18.42%	15.29%	11.94%	9.21%	9.54%	12.93%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	2.47	2.37	2.28	1.85	1.63	1.66	1.89
NOPAT to Interest Expense	0.00	0.00	0.00	2.45	2.33	2.33	1.90	1.52	1.75	1.97
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.94	0.30	-0.73	-0.47	-0.42	0.12	0.18
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.92	0.26	-0.67	-0.42	-0.53	0.21	0.26
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-34.65%	-85.04%	-84.67%	216.51%	207.39%	224.50%	287.12%	420.49%	359.38%	76.13%
Augmented Payout Ratio	-35.06%	-85.98%	-86.79%	222.90%	214.58%	229.38%	292.27%	426.78%	366.39%	78.07%

This table displays calculated financial ratios and metrics derived from Crown Castle's official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.49%	-0.90%	-12.91%	-7.45%	-5.10%	-4.52%	7.67%	1.78%	6.65%	7.91%
EBITDA Growth	-495.26%	4.61%	-17.28%	-7.15%	-1.15%	-9.59%	9.40%	2.11%	11.53%	10.02%
EBIT Growth	-871.38%	10.70%	-27.22%	-13.60%	-3.29%	-19.00%	12.52%	1.30%	17.18%	14.94%
NOPAT Growth	-867.47%	13.03%	-28.17%	-14.81%	-4.05%	-20.78%	12.09%	1.37%	17.44%	15.90%
Net Income Growth	239.73%	14.34%	-44.84%	-25.60%	13.91%	-36.75%	8.08%	-0.71%	413.31%	19.37%
EPS Growth	-1,421.69%	14.75%	-44.76%	-26.80%	-12.63%	-37.11%	8.25%	0.00%	41.79%	19.75%
Operating Cash Flow Growth	1.04%	31.14%	-31.37%	-1.16%	3.33%	-23.97%	43.65%	8.60%	14.44%	2.49%
Free Cash Flow Firm Growth	66.46%	136.72%	31.18%	184.36%	112.09%	107.48%	110.35%	105.82%	30.29%	-1,168.20%
Invested Capital Growth	-16.28%	-1.41%	-0.92%	-1.23%	-0.33%	0.11%	0.15%	0.80%	0.81%	22.45%
Revenue Q/Q Growth	-0.18%	1.60%	-0.91%	-1.97%	0.42%	-10.71%	5.30%	0.51%	1.03%	0.69%
EBITDA Q/Q Growth	-518.34%	5.63%	-6.38%	-4.45%	10.72%	-16.47%	5.08%	1.72%	1.26%	1.08%
EBIT Q/Q Growth	-941.64%	11.16%	-10.37%	-8.01%	20.78%	-26.92%	6.40%	2.97%	1.17%	1.52%
NOPAT Q/Q Growth	-941.19%	13.42%	-10.32%	-9.29%	23.88%	-27.92%	6.35%	1.41%	2.28%	1.99%
Net Income Q/Q Growth	2,214.19%	20.72%	-19.29%	-14.56%	678.87%	-41.76%	8.85%	0.97%	332.46%	-0.48%
EPS Q/Q Growth	-1,667.14%	20.69%	-18.31%	-83.45%	36.07%	-41.90%	8.25%	-79.83%	-2.06%	0.00%
Operating Cash Flow Q/Q Growth	25.46%	-8.98%	28.21%	-30.99%	62.85%	-52.37%	84.65%	-27.86%	19.83%	-10.01%
Free Cash Flow Firm Q/Q Growth	13.65%	29.10%	-17.22%	38.34%	61.61%	-28.45%	79.44%	2.93%	105.70%	1.00%
Invested Capital Q/Q Growth	-15.37%	-0.57%	-0.29%	-0.23%	-0.33%	-0.09%	-0.60%	0.69%	0.11%	-0.05%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	71.86%	72.16%	71.77%	71.72%	72.94%	70.85%	72.04%	70.73%	70.46%	69.99%
EBITDA Margin	-247.60%	59.08%	56.83%	60.15%	61.71%	55.97%	59.83%	59.95%	59.24%	59.11%
Operating Margin	-273.20%	32.93%	29.83%	32.78%	35.13%	29.15%	35.73%	35.42%	34.69%	34.48%
EBIT Margin	-274.59%	32.57%	29.77%	32.91%	35.07%	29.15%	35.62%	35.25%	34.41%	34.36%
Profit (Net Income) Margin	425.23%	18.34%	15.44%	18.95%	123.30%	15.90%	24.37%	23.58%	102.72%	24.00%
Tax Burden Percent	99.93%	98.38%	97.29%	97.80%	99.76%	97.43%	98.48%	98.35%	99.89%	99.29%
Interest Burden Percent	-154.97%	57.25%	53.31%	58.89%	352.47%	55.97%	69.47%	68.00%	298.85%	70.33%
Effective Tax Rate	0.07%	1.62%	2.71%	2.20%	0.24%	2.57%	1.52%	1.65%	0.11%	0.71%
Return on Invested Capital (ROIC)	-56.08%	6.16%	5.51%	6.28%	7.02%	5.75%	7.20%	6.98%	6.96%	7.43%
ROIC Less NNEP Spread (ROIC-NNEP)	-16.17%	5.35%	4.74%	5.52%	12.30%	5.00%	6.47%	6.25%	11.42%	6.67%
Return on Net Nonoperating Assets (RNNOA)	-149.32%	25.66%	21.21%	23.57%	49.72%	19.34%	23.84%	22.44%	39.15%	19.43%
Return on Equity (ROE)	-205.41%	31.82%	26.72%	29.85%	56.74%	25.09%	31.04%	29.42%	46.12%	26.86%
Cash Return on Invested Capital (CROIC)	8.57%	7.51%	6.83%	7.64%	7.07%	6.64%	6.96%	6.08%	6.13%	-12.88%
Operating Return on Assets (OROA)	-50.62%	5.60%	5.09%	5.83%	6.32%	5.32%	6.53%	6.33%	6.17%	6.07%
Return on Assets (ROA)	78.38%	3.15%	2.64%	3.36%	22.23%	2.90%	4.46%	4.24%	18.41%	4.24%
Return on Common Equity (ROCE)	-205.41%	31.82%	26.72%	29.85%	56.74%	25.08%	31.04%	29.42%	46.12%	26.86%
Return on Equity Simple (ROE_SIMPLE)	0.00%	23.21%	21.07%	23.07%	0.00%	23.27%	24.21%	23.15%	0.00%	21.03%
Net Operating Profit after Tax (NOPAT)	-4,502	535	472	526	587	473	657	618	611	598
NOPAT Margin	-273.00%	32.40%	29.02%	32.06%	35.04%	28.40%	35.18%	34.84%	34.66%	34.23%
Net Nonoperating Expense Percent (NNEP)	-39.91%	0.81%	0.78%	0.76%	-5.29%	0.75%	0.73%	0.73%	-4.46%	0.76%
Return On Investment Capital (ROIC_SIMPLE)	-15.43%	-	-	-	1.68%	-	-	-	1.74%	-
Cost of Revenue to Revenue	28.14%	27.85%	28.23%	28.28%	27.06%	29.15%	27.96%	29.27%	29.54%	30.01%
SG&A Expenses to Revenue	10.07%	9.26%	12.55%	11.15%	10.63%	10.56%	11.25%	11.00%	10.88%	10.71%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	-256.28%	39.23%	41.94%	38.94%	37.81%	41.69%	36.31%	35.31%	35.77%	35.51%
Earnings before Interest and Taxes (EBIT)	-4,528	538	484	540	587	486	665	625	607	600
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-4,083	976	924	987	1,033	933	1,117	1,063	1,045	1,032
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	9.73	7.51	7.47	7.26	5.65	6.61	7.46	6.92	7.41
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	5.91	7.82	6.42	6.60	6.63	5.33	6.51	7.68	7.37	8.27
Price to Earnings (P/E)	4.93	41.95	35.64	32.36	14.46	24.28	27.27	32.28	16.76	35.31
Dividend Yield	7.01%	5.28%	6.41%	6.01%	5.86%	7.20%	5.74%	4.88%	5.02%	4.48%
Earnings Yield	20.30%	2.38%	2.81%	3.09%	6.92%	4.12%	3.67%	3.10%	5.97%	2.83%
Enterprise Value to Invested Capital (EV/IC)	2.33	2.34	2.06	2.12	2.14	1.88	2.12	2.32	2.26	2.41
Enterprise Value to Revenue (EV/Rev)	10.33	12.21	10.77	10.76	10.67	9.31	10.38	11.64	11.28	12.21
Enterprise Value to EBITDA (EV/EBITDA)	0.00	20.54	18.36	18.11	17.97	15.83	17.44	19.64	19.04	20.82
Enterprise Value to EBIT (EV/EBIT)	0.00	37.47	33.95	32.35	31.53	27.62	29.73	33.72	32.63	36.08
Enterprise Value to NOPAT (EV/NOPAT)	0.00	38.09	34.69	32.94	31.71	27.91	29.91	33.90	32.66	36.28
Enterprise Value to Operating Cash Flow (EV/OCF)	23.05	27.44	25.72	23.63	23.84	21.24	22.73	27.93	27.38	30.28
Enterprise Value to Free Cash Flow (EV/FCFF)	24.76	30.91	29.98	27.59	30.24	28.39	30.54	38.35	36.97	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-220.43	5.54	5.14	4.76	4.46	4.26	4.00	3.90	3.71	3.57
Long-Term Debt to Equity	-215.84	5.42	4.99	4.62	4.33	4.13	3.88	3.79	3.60	3.46
Financial Leverage	9.23	4.80	4.48	4.27	4.04	3.86	3.69	3.59	3.43	2.91
Leverage Ratio	11.41	6.41	6.09	5.82	5.60	5.41	5.24	5.12	4.96	4.81
Compound Leverage Factor	-17.68	3.67	3.24	3.43	19.74	3.03	3.64	3.48	14.83	3.38
Debt to Total Capital	100.46%	84.71%	83.72%	82.65%	81.70%	80.98%	79.99%	79.60%	78.75%	78.12%
Short-Term Debt to Total Capital	2.09%	1.76%	2.49%	2.45%	2.40%	2.36%	2.33%	2.31%	2.34%	2.33%
Long-Term Debt to Total Capital	98.37%	82.94%	81.23%	80.20%	79.30%	78.62%	77.67%	77.29%	76.42%	75.79%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-0.46%	15.29%	16.28%	17.35%	18.30%	19.02%	20.01%	20.40%	21.25%	21.86%
Debt to EBITDA	-24.51	7.48	7.50	7.08	6.87	6.83	6.62	6.77	6.67	6.80
Net Debt to EBITDA	-24.27	7.39	7.41	7.01	6.80	6.76	6.50	6.68	6.59	6.72
Long-Term Debt to EBITDA	-24.00	7.33	7.28	6.87	6.67	6.63	6.42	6.58	6.47	6.60
Debt to NOPAT	-10.01	13.88	14.17	12.88	12.12	12.04	11.35	11.69	11.44	11.85
Net Debt to NOPAT	-9.91	13.71	14.01	12.75	12.00	11.92	11.16	11.54	11.31	11.71
Long-Term Debt to NOPAT	-9.80	13.59	13.75	12.50	11.77	11.69	11.02	11.35	11.11	11.50
Altman Z-Score	-0.38	0.65	0.49	0.58	0.62	0.47	0.67	0.82	0.78	0.90
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.00%	0.00%	0.00%	0.02%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.50	0.54	0.43	0.42	0.40	0.44	0.50	0.52	0.45	0.46
Quick Ratio	0.27	0.29	0.23	0.22	0.23	0.25	0.28	0.30	0.27	0.27
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,166	1,026	795	960	701	433	606	338	330	-5,797
Operating Cash Flow to CapEx	317.75%	235.35%	233.43%	187.19%	243.14%	153.60%	295.25%	177.71%	215.94%	208.01%
Free Cash Flow to Firm to Interest Expense	0.00	4.35	3.46	4.25	0.00	2.00	2.91	1.67	0.00	-32.39
Operating Cash Flow to Interest Expense	0.00	2.96	3.34	2.65	0.00	2.46	5.38	3.00	0.00	3.92
Operating Cash Flow Less CapEx to Interest Expense	0.00	1.70	1.91	1.23	0.00	0.86	3.56	1.31	0.00	2.03
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.18	0.17	0.17	0.18	0.18	0.18	0.18	0.18	0.18	0.18
Accounts Receivable Turnover	13.70	14.26	14.43	14.50	13.00	13.51	14.13	13.14	12.30	13.38
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.42	0.42	0.42	0.44	0.45	0.46	0.46	0.46	0.46	0.45
Accounts Payable Turnover	8.32	8.85	8.01	8.57	8.11	9.23	8.88	9.09	8.58	9.01
Days Sales Outstanding (DSO)	26.65	25.60	25.30	25.18	28.08	27.02	25.83	27.78	29.68	27.28
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	43.87	41.25	45.58	42.57	44.98	39.57	41.12	40.14	42.54	40.52
Cash Conversion Cycle (CCC)	-17.22	-15.65	-20.28	-17.39	-16.90	-12.54	-15.29	-12.36	-12.86	-13.23
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	29,138	34,429	34,627	34,726	34,806	34,920	34,950	35,160	34,920	34,880
Invested Capital Turnover	0.21	0.19	0.19	0.20	0.20	0.20	0.20	0.20	0.20	0.22
Increase / (Decrease) in Invested Capital	-5,668	-491	-323	-434	-114	40	51	280	281	6,395
Enterprise Value (EV)	67,822	80,522	71,200	73,696	74,510	65,812	74,229	81,709	78,800	83,928
Market Capitalization	38,795	51,553	42,453	45,178	46,304	37,706	46,544	53,904	51,512	56,846
Book Value per Share	($0.31)	$12.19	$13.01	$13.94	$14.71	$15.38	$16.25	$16.66	$17.20	$17.72
Tangible Book Value per Share	($12.23)	($17.64)	($17.05)	($16.38)	($8.67)	($15.43)	($14.82)	($14.67)	($6.23)	($14.11)
Total Capital	29,184	34,631	34,725	34,859	34,863	35,059	35,214	35,411	35,059	35,103
Total Debt	29,317	29,335	29,073	28,811	28,482	28,390	28,168	28,188	27,610	27,424
Total Long-Term Debt	28,707	28,724	28,208	27,957	27,647	27,563	27,349	27,369	26,791	26,605
Net Debt	29,027	28,969	28,747	28,518	28,206	28,106	27,685	27,805	27,288	27,082
Capital Expenditures (CapEx)	276	297	329	320	357	347	379	341	389	337
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-767	-728	-874	-798	-994	-880	-1,040	-774	-1,017	-925
Debt-free Net Working Capital (DFNWC)	-477	-362	-548	-505	-718	-596	-557	-391	-695	-583
Net Working Capital (NWC)	-1,087	-973	-1,413	-1,359	-1,553	-1,423	-1,376	-1,210	-1,514	-1,402
Net Nonoperating Expense (NNE)	-11,514	232	221	215	-1,477	208	202	200	-1,201	179
Net Nonoperating Obligations (NNO)	29,271	29,133	28,975	28,678	28,425	28,251	27,904	27,937	27,471	27,201
Total Depreciation and Amortization (D&A)	445	438	440	447	446	447	452	438	438	432
Debt-free, Cash-free Net Working Capital to Revenue	-11.68%	-11.04%	-13.23%	-11.65%	-14.24%	-12.45%	-14.55%	-11.03%	-14.56%	-13.45%
Debt-free Net Working Capital to Revenue	-7.26%	-5.49%	-8.29%	-7.37%	-10.29%	-8.43%	-7.79%	-5.57%	-9.95%	-8.48%
Net Working Capital to Revenue	-16.55%	-14.76%	-21.38%	-19.84%	-22.25%	-20.12%	-19.24%	-17.24%	-21.67%	-20.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($10.98)	$0.70	$0.58	$0.72	$0.83	$0.61	$1.05	$0.97	$0.96	$0.97
Adjusted Weighted Average Basic Shares Outstanding	434M	435M	435M	434M	434M	434M	434M	433M	433M	433M
Adjusted Diluted Earnings per Share	($10.97)	$0.70	$0.58	$0.71	$0.83	$0.61	$1.05	$0.97	$0.95	$0.97
Adjusted Weighted Average Diluted Shares Outstanding	434M	436M	435M	435M	434M	434M	434M	434M	434M	434M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	435.43M	434.60M	434.57M	434.52M	434.22M	433.69M	433.68M	433.67M	433.44M	433.05M
Normalized Net Operating Profit after Tax (NOPAT)	-9,327	597	519	543	603	551	680	618	620	601
Normalized NOPAT Margin	-565.64%	36.15%	31.89%	33.08%	35.99%	33.08%	36.40%	34.84%	35.17%	34.40%
Pre Tax Income Margin	425.53%	18.64%	15.87%	19.38%	123.60%	16.32%	24.75%	23.97%	102.83%	24.17%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	2.28	2.10	2.39	0.00	2.24	3.20	3.09	0.00	3.35
NOPAT to Interest Expense	0.00	2.27	2.05	2.33	0.00	2.18	3.16	3.06	0.00	3.34
EBIT Less CapEx to Interest Expense	0.00	1.02	0.67	0.97	0.00	0.64	1.38	1.41	0.00	1.47
NOPAT Less CapEx to Interest Expense	0.00	1.01	0.62	0.91	0.00	0.58	1.34	1.37	0.00	1.46
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-34.65%	221.97%	228.97%	195.34%	-85.04%	175.39%	157.03%	157.78%	-84.67%	158.55%
Augmented Payout Ratio	-35.06%	224.65%	231.57%	197.42%	-85.98%	177.32%	158.85%	159.57%	-86.79%	162.58%

Frequently Asked Questions About Crown Castle's Financials

When does Crown Castle's fiscal year end?

According to the most recent income statement we have on file, Crown Castle's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Crown Castle's net income changed over the last 9 years?

Crown Castle's net income appears to be on an upward trend, with a most recent value of $7.88 billion in 2024, rising from $1.52 billion in 2015. The previous period was $3.20 billion in 2023. See Crown Castle's forecast for analyst expectations on what’s next for the company.

What is Crown Castle's operating income?

Crown Castle's total operating income in 2024 was -$2.94 billion, based on the following breakdown:

Total Gross Profit: $4.72 billion
Total Operating Expenses: -$2.26 billion

How has Crown Castle revenue changed over the last 9 years?

Over the last 9 years, Crown Castle's total revenue changed from $3.66 billion in 2015 to $6.57 billion in 2024, a change of 79.3%.

How much debt does Crown Castle have?

Crown Castle's total liabilities were at $32.87 billion at the end of 2024, a 2.2% increase from 2023, and a 121.4% increase since 2015.

How much cash does Crown Castle have?

In the past 9 years, Crown Castle's cash and equivalents has ranged from $105 million in 2023 to $567.60 million in 2016, and is currently $119 million as of their latest financial filing in 2024.

How has Crown Castle's book value per share changed over the last 9 years?

Over the last 9 years, Crown Castle's book value per share changed from 21.24 in 2015 to -0.31 in 2024, a change of -101.4%.

Related Companies

This page (NYSE:CCI) was last updated on 5/30/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Crown Castle (CCI) Financials

Frequently Asked Questions About Crown Castle's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Crown Castle (CCI) Financials

Annual Income Statements for Crown Castle

Quarterly Income Statements for Crown Castle

Annual Cash Flow Statements for Crown Castle

Quarterly Cash Flow Statements for Crown Castle

Annual Balance Sheets for Crown Castle

Quarterly Balance Sheets for Crown Castle

Annual Metrics And Ratios for Crown Castle

Quarterly Metrics And Ratios for Crown Castle

Frequently Asked Questions About Crown Castle's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools